Bitcoin treasury fever grows in Japan as AI firm targets 3,000 BTC

Japanese publicly listed artificial intelligence firm Quantum Solution announced plans to create a Bitcoin treasury targeting 3,000 BTC within the next year — an investment worth over $350 million at current prices.

According to a Thursday announcement, Quantum Solutions’ Bitcoin (BTC) treasury will be managed by wholly owned Hong Kong subsidiary GPT Pals Studio Limited. The subsidiary will commence operations with an initial investment of $10 million provided by the international investment firm Integrated Asset Management.

Per the announcement, “the company views Bitcoin as a long-term, strategic reserve instrument.” Quantum Solutions plans to pursue its 3,000 BTC reserve target in stages, depending on market conditions, capital availability and the regulatory environment.

According to Google Finance data, Quantum Solutions’ market cap stands at 23.25 billion yen (just under $159 million). The firm’s stock also dipped 9.19% today, trading at 504 yen ($3.44) at the time of writing.

24-hour Quantum Solutions stock price chart. Source: Google FinanceRelated: Metaplanet vs. Semler Scientific: The race to become Bitcoin’s biggest corporate whale

A dedicated subsidiary to manage treasury

GPT Pals Studio has already started establishing its digital asset infrastructure, which the announcement claims is secure and auditable. The infrastructure purportedly includes segregated cold and hot wallet systems, internal controls and accounting mechanisms.

The announcement noted that this is a long-term investment and not a short-term speculative play, with CEO Francis Zhou claiming that the company is “uniquely positioned to build a Bitcoin-first capital structure.”

“In addition to accumulating Bitcoin, we intend to do so with institutional-grade discipline,” Zhou said. “We are in advanced discussions with top-tier asset managers, sovereign wealth allocators and fintech leaders to scale our treasury roadmap responsibly and rapidly.”

Related: Metaplanet CEO joins investment in Korean company to boost Asia crypto treasuries

Bitcoin treasuries on the rise in Japan

Quantum is the latest Japanese company to follow in the footsteps of Metaplanet, the first publicly listed firm in Japan to adopt a Bitcoin treasury strategy.

Earlier this week, Kitabo, a nearly 80-year-old publicly listed Japanese company primarily involved in textiles and recycling, announced plans to purchase 800 million Japanese yen, or approximately $5.6 million, of Bitcoin for its company reserve.

Earlier this month, Tokyo-based energy company Remixpoint raised around $215 million to expand its Bitcoin treasury. The firm’s new CEO, Takashi Tashiro, will be paid in Bitcoin as part of efforts to be “in the same boat” as shareholders.

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